Health Insurance Blog

SENSE IN SAFEGUARDING EVENTIf anyone knows the value of a good insurance policy, it’s Romeo Lavarias. As the director of emergency management operations for Miramar, Fla., Lavarias has seen his share of disasters. So it was a no-brainer when his fiancee, Stephanie Goldstein, suggested buying insurance for their wedding, set for July during the upcoming hurricane season.

“My job is to prepare our city in the event of a disaster, so naturally, this is right up my alley,” said Lavarias, whose city was hit by Hurricane Wilma in 2005. Heading into a prime weddings month in June, and with weddings becoming ever more elaborate and expensive, more couples are opting to buy wedding coverage.

Natural disasters aside, many reception facilities now require liability coverage for outof-control celebrations. Wedding planners often require insurance, too, in case of cancellations. Increasingly, policies cover all sorts of contingencies. Lost the bridal dress? No problem. Guests stranded by a hurricane or a Denver snowstorm? Covered. Photographer ruins pictures? Piece of cake to re-stage. There is even a policy that offers reimbursement in case of cold feet.

Fewer than 1 percent of the betrothed purchase policies in the United States, said Kyle Brown, executive director of the Bridal Association of America in Bakersfield, Calif. But given that the average cost for a wedding is $27,000, according to insurance industry estimates, Brown thinks it’s a good buy. “For 1 percent or 2 percent of the cost of your entire wedding, you can insure it,” Brown said. Since Hurricane Katrina, New Orleans wedding planner Jennie Keller requires every couple to buy insurance.

She once required it just for couples marrying during hurricane season, which runs from June through November. “I know that you can’t play around with Mother Nature,” she said. “Wedding insurance will cover it all even if you cancel your wedding.”

Among the companies that offer it are Fireman’s Fund, WedSafe Wedding Insurance Program offered through Affinity Insurance Services Inc. and Traveler’s Insurance, which added the coverage in February.

Depending on the company and the type of coverage, a policy can cost anywhere from a couple hundred dollars to more than $1,000. Typical coverage can include reimbursement of nonrefundable deposits for misfortune such as a death in the family or a military deployment.

Some policies cover repairs for a damaged dress or replacement of lost wedding attire; theft of gifts; and the cost of gathering wedding party members to retake photographs and videotape. Policies also can pay for some counseling if canceled or postponed nuptials cause emotional stress, according to the Insurance Information Institute in New York.

Even a “change of heart” can be insured in a special option Fireman’s Fund Insurance Co. began offering this month that costs about $25 on top of the policy. It’s for those who pay for a wedding only to have the groom or bride back out, said insurance broker Rob Nuccio of RV Nuccio and Associates, who wrote the option.“Oftentimes, there is an innocent person involved in that.

There is the poor father who lays out 50 grand and he’s just left dumbfounded,” Nuccio said. Not everyone is won over by the policies, however. Independent insurance agent Michelle Mestnik of Colorado Springs and fiance Nathan Green opted for a $350 liability policy for their July 7 wedding, which is expected to cost about $10,000. Mestnik doesn’t think she needs specific wedding insurance. “I have looked into it. It does not sound like that great a deal,” she said. WAYS TO PROTECT YOUR INVESTMENT Here are some ways to protect marrying couples and their guests: Insurance: A number of companies offer specific insurance for weddings, covering such items as lost or damaged dresses; cancellation or postponement due to weather, military deployment or death in the family. There also is an option from Fireman’s Fund that covers “change of heart” or cold feet. Insurance is just one protective step that engaged couples should consider, said Michael McCann, a former United Nations security chief.